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Discussion of “The effect of alternative accounting measurement bases on investors’ assessments of managers’ stewardship”

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  • Emett, Scott A.
  • Nelson, Mark W.

Abstract

Anderson, Brown, Hodder, and Hopkins (ABHH, in press) provide experimental evidence that investors are better able to assess management stewardship and firm value when financial statements highlight fair-value information rather than amortized-cost information. We focus our discussion on five methodological choices that the authors make. We consider how those choices affect the generality of ABHH’s results, consider an alternative theoretical explanation for those results, and suggest opportunities for future research that build on ABHH’s work.

Suggested Citation

  • Emett, Scott A. & Nelson, Mark W., 2015. "Discussion of “The effect of alternative accounting measurement bases on investors’ assessments of managers’ stewardship”," Accounting, Organizations and Society, Elsevier, vol. 46(C), pages 115-118.
    • Handle: RePEc:eee:aosoci:v:46:y:2015:i:c:p:115-118
    DOI: 10.1016/j.aos.2015.08.003
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    References listed on IDEAS

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    1. Denis Cormier & Michel Magnan & Bernard Morard, 2000. "The contractual and value relevance of reported earnings in a dividend-focused environment," European Accounting Review, Taylor & Francis Journals, vol. 9(3), pages 387-417.
    2. Holthausen, Robert W. & Watts, Ross L., 2001. "The relevance of the value-relevance literature for financial accounting standard setting," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 3-75, September.
    3. Robert Bushman & Ellen Engel & Abbie Smith, 2006. "An Analysis of the Relation between the Stewardship and Valuation Roles of Earnings," Journal of Accounting Research, Wiley Blackwell, vol. 44(1), pages 53-83, March.
    4. Gjesdal, F, 1981. "Accounting For Stewardship," Journal of Accounting Research, Wiley Blackwell, vol. 19(1), pages 208-231.
    5. Paul, Jonathan M, 1992. "On the Efficiency of Stock-Based Compensation," The Review of Financial Studies, Society for Financial Studies, vol. 5(3), pages 471-502.
    6. Anderson, Spencer B. & Brown, Jason L. & Hodder, Leslie & Hopkins, Patrick E., 2015. "The effect of alternative accounting measurement bases on investors’ assessments of managers’ stewardship," Accounting, Organizations and Society, Elsevier, vol. 46(C), pages 100-114.
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    Cited by:

    1. Cascino, Stefano & Clatworthy, Mark A. & Osma, Beatriz Garcia & Gassen, Joachim & Imam, Shahed, 2021. "The usefulness of financial accounting information: evidence from the field," LSE Research Online Documents on Economics 107569, London School of Economics and Political Science, LSE Library.

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